The cutting edges of cutting tools wear rapidly when used for cutting operations, particularly when cutting hard materials such as metal, and therefore they must be frequently replaced or resharpened. In many types of cutter machines, such as milling machines, the cutting tool includes a plurality of such cutting edges formed in cutting inserts which are fixed within seats in the cutting tool. Each such cutting insert usually includes a plurality of cutting edges, which are sequentially oriented in cutting operations by indexing the cutting insert within the respective seat of the cutting tool.
In the conventional cutting tool, the cutting insert is attached within the seat of the cutting tool by a fastener passing through a bore in the cutting insert into the bottom of the seat in the cutting tool. Indexing the cutting insert to enable the use of another cutting edge requires the removal of the fastener, the reorientation of the cutting insert, and the reattachment of the cutting insert within the seat of the cutting tool. Each of these operations involves time and labor, and since cutting tools generally include a plurality of such cutting inserts, the time and labor costs involved in indexing the cutting inserts in a cutting tool are considerable.